Falcon buys stake in Brazil cabler

Falcon Cable has struck a deal to invest $50 million for a 17% stake in TV A, one of the leading Brazilian cable operators/programmers. Capital Cities/ABC, along with Hearst Entertainment, is in talks to invest in the Latin American service too.

TV A, majority owned by publishing giant Grupo Abril, is one of the pay TV market leaders in Brazil along with Globo subsidiary NET Brasil. It also is one of the largest cable operators, with systems reaching close to 250,000 subscribers. Non-TV A owned cable systems that rely heavily on TV A-owned programming reach another 250,000-plus subscribers and are counted toward the company’s ownership totals in accordance with Brazil regulations. Cable is rapidly growing in the region, with operators adding several thousand subscribers monthly.

CapCities/ABC and Hearst are said to be nearing a deal with TV A to acquire a stake of at least 15%. The companies declined comment. The two companies already are partners in cable domestically. CapCities and Hearst are equal partners in Lifetime Television, and Hearst also owns 20% of CapCities’ ESPN and ESPN2.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More TV News from Variety

Loading